Early retirement dilemma

[Cap_Scarlet]

At 50 years old we have everything in place to retire early.

We have sold our house and bought our retirement home.
We have sufficient pensions in place which will start paying out at age 60 to meet our expected retirement expenditure.
We have sufficient cash (with a good buffer) to more than fund our living expenses between now and age 60
Kids are very well provided for, we have paid them through college and an inheritance means they have enough money to get on the housing ladder

.....and yet, standing on the edge of the swimming pool we are hesistating to jump.

Why?

- Loss of status?  I actually like some bits of the job (the bit with clients and doing work) but hate other bits (the internal politics)
- I am in peak earning years and can expect to earn a significant amount over the next 2-3 years, which seems almost criminal to forego (even if we don't need the money ourselves, i could see us increasing our giving e.g. to start up businesses) or (selfishly) upgrading our travel budget.
- A fear that actually I might get bored (realitically I have some hobbies but 24 hours a day 7 days a week I'm not so sure).
- The finality of the decision (at my level, once i go there's no going back)

We may have the opportunity to relocate (with my employer) to a much nice location that would potentially be a really good fit for us.

Anyone been in the same situation?  What did you do?

[Zamboni]

First, congratulations on being in such a great financial situation!

I'm not yet in your situation, but I expect my situation will be similar. From what I'm reading, it sound like part of the hesitation is that you like your job pretty well. If the politics is the main thing that gets you down (which is certainly understandable), then perhaps the possible relocation move can give you fresh politics at least? Plenty of people, who just don't have to play the politics game anymore, have just checked out from it while quietly enjoying their actual work. It's easier said than done, but it can be done since it's mostly a mental construct anyway. Not sure if that is an option for you as it depends upon the type of position and at a minimum it requires a shift in mentality.

[Potterquilter]

Although most of the posters here strived to achieve FI so they could retire from the 9-5 there is no reason why you have to do so. But here is the good news. Any time your BS bucket gets full you can walk. You are in control.

We worked longer than we had to but that was before the ACA in the U.S. And health insurance was a biggie for us. Also, with our "extra" money we help fund the grandkids college accounts, give more to charity and do exotic things like rent expensive lake houses for everyone to come to. Pure luxuries but for us it was worth it.

I am never bored, but DH and I have always had a ton of hobbies and have a blast every day. No regrets. 

[Cap_Scarlet]

The "bored" thing is quick closely linked (IMHO) with health insurance i.e. most potential early retirees tend to think of themselves in retirement as they are today (in their 30's and 40's) rather than as they will be in retirement.  From a hobby point of view I have a lot of things to fill my time but most of them involve sports (cycling, running, skiing, Hiking etc.) but with some knee problems already I can only think that is going to get more problematic.

Of course that then makes you think, "maybe I should retire now and enjoy a couple of years of relatively high physical activity" but actually you never know how things are going to develop.

[Cap_Scarlet]

First, congratulations on being in such a great financial situation!

Thank you.

[benjenn]

We were just in an almost identical situation.  I just turned 51, DH just turned 52.  We both made over $100K per year and both of us had at least parts of our job we liked (maybe even loved).  We knew we were walking away from a LOT.  However, it wasn't too difficult to decide it was worth it just for the freedom to do whatever we wanted to do with no internal politics involved (because that was a big part of what we both hated about our jobs).

We had sold our house about a year and a half ago in anticipation of retiring and were leasing a condo (fully furnished) in our hometown.  We already owned our retirement place in another state (at the beach even!)  We just paid the last semester for our son's college.  Right after we got here, we paid off our condo here so we are mortgage free!

DH is already retired from the AF so we have his pension and health insurance from that already. That's what we'll live off until we turn 59 and can both access our 401Ks penalty free.  At that point, we'll have more money than we'll know what to do with.

Loss of status?  Well, maybe moving to a new state where nobody knows us already did that for us.  I'd much rather be known for who I am rather than what I do for a living.

We were also in our peak earning years. I know it seems crazy to be willing to walk away from such high paying jobs when so many people can't even imagine making that much money... but money isn't everything.  All we need it enough and we have enough.

I can honestly say that in the 10 days we've been retired, I haven't been bored once.  I haven't been terribly active all day every day but still, the days don't drag on like they used to when I was in the office.  That doesn't mean I won't ever be bored but I love the idea of always being able to choose what I do... so, if I'm bored, well... I can choose to do something that's not boring.  The possibilities are endless.

DH could easily go back as a contractor with his company and even work remotely from here.  I think I've convinced him not to even consider it.  :) There's no going back for me but honestly, now that I've been away from it for 10 days, there's no way I'd consider that anyway.

It was an easy decision for us and from what you said in your post, it sounds like it's shouldn't be too difficult for you.  My advice would be to just do it.

Here's something I posted on Facebook early last week, just a few days into our retirement.  This is what it's been like for us so far:

Just a few days in and thought I'd share some of my favorites things about retirement so far...

Waking up with no alarm. Even if that means getting up at 3:30 a.m., it's because I woke up and wanted to get up, not because I had to get up. That's pretty cool. It may take awhile to stop waking up at 5 a.m. but I'm pretty sure that will come.

Eating when I want to eat, not because someone else says it's time to eat. We just finished a wonderful lunch on the balcony and it's almost 2 p.m. We probably won't eat dinner, just snack. We didn't have to eat 2 hours ago just because that's when our lunch break was.

Cooking in the middle of the day, not just in the evening after a long day at work when I'm tired and cooking is really the last thing I'd like to do. I just made a wonderful lunch for us - tempeh tacos. They were delicious and there's enough leftovers that I won't have to cook anything else tonight if I don't feel like it. And made oatmeal peanut butter squares yesterday just because I could.
Making appointments for things like haircuts without regard to what day or time the appointment is. Thursday at 10 a.m.? Sure. I can do that.

And an afternoon margarita (that went really well with the tempeh tacos I made for lunch!) on the balcony while I'm finishing up a really good book on a Tuesday afternoon. Ahhhh, yeah. That's the ticket.

[Villanelle]

Is there any possibility at all of cutting back hours at work or working from home?  Since you are in a position of power, you can negotiate aggressively with your employer for terms that make working more attractive, so you can keep what you like about work and ditch more of what you don't.  And since you don't need the money, if it comes with a paycut, that should be okay, too.

If you relocate, would there be a commitment to stay for a certain amount of time?  Is the new location a place where you'd want to be retired?

[forummm]

Congratulations! You're free! Now, you can do whatever you want. If you'd prefer to keep working at your current job--there's nothing to stop you. You can always give the money you don't need to charity. If you'd enjoy the relocation--nothing to stop you. You can always sell, rent out, or keep vacant the retirement house until you're ready to use it.

There's no rush to decide. You could do part time. Take a sabbatical. Many options.

[Cassie]

Within 6 months of f.t. retirement the hubby & I found that we were bored. Our solution was to work p.t. consulting in our fields. we decide when to work & don't really have a boss. It has been the best decision for us.

[Cap_Scarlet]

Is there any possibility at all of cutting back hours at work or working from home?  Since you are in a position of power, you can negotiate aggressively with your employer for terms that make working more attractive, so you can keep what you like about work and ditch more of what you don't.  And since you don't need the money, if it comes with a paycut, that should be okay, too.

I am absolutely with you there and that is definitely an option.  I would be happy with less money for less work but here's the thing - we are a large company with progressive employment polices.  We even have video's on our website showing examples of people who have gone to part time or some other form of flexi work.  So on the face of it is looks doable.  However, its difficult to shake the feeling that its a sham and actually they see it as a sign of weakness.  I also suspect those on short hours end up working on their days off and / or working harder on the days they are in in order to compensate.  Finally, I think my idea would be to work around 30% and nobody has (to my knowledge) ever done that.

If you relocate, would there be a commitment to stay for a certain amount of time?  Is the new location a place where you'd want to be retired?

It would not be for a fixed period of time but as we would need to rent an apartment realistically we would be committing for 12 months.  In addition, its definitely an upgrade on where we live at the moment....the only concern is "same shit different bucket"

I have at least taken the first step which is telling them I am moving away from the area where we live at the moment - that made them sit up and take notice a bit :-)

[Cap_Scarlet]

I can honestly say that in the 10 days we've been retired, I haven't been bored once.....

....I would hope not!

I'll be watching your progress and keen to see how you are getting on after 6 months :)

[Miss Prim]

I say go for it and retire!  I was kind of lost at first when I retired in April, but now I am loving it!  The nice part about it is that you have time for projects that you wouldn't have had time for before. 

Also, you don't have to do them at break neck speed, like you did when you were off work only 2 days a week!  My husband and I get up every morning and decide what we want to work on for the day.  We take the time to take a walk or work out at the gym, and then work on projects for as long as we feel like it and then quit for the day when we get tired or bored.  Some days we take small naps.  We are doing more cooking.  Life is moving along at a more leisurely pace and the stress is gone.

I also had a career that I really loved (microbiologist) and I even posted on the FIRE forum about missing the challenges of the job, but 4 months later and a few visits back to work and I don't miss it at all.  The reason I retired was because although I loved my job, we were having to work faster and faster and doing more with less help.  Now I have no stress in my life at all. 

Try it, I guarantee you will love it!                                                 Miss Prim

[clifp]

Is there any possibility at all of cutting back hours at work or working from home?  Since you are in a position of power, you can negotiate aggressively with your employer for terms that make working more attractive, so you can keep what you like about work and ditch more of what you don't.  And since you don't need the money, if it comes with a paycut, that should be okay, too.

I am absolutely with you there and that is definitely an option.  I would be happy with less money for less work but here's the thing - we are a large company with progressive employment polices.  We even have video's on our website showing examples of people who have gone to part time or some other form of flexi work.  So on the face of it is looks doable.  However, its difficult to shake the feeling that its a sham and actually they see it as a sign of weakness.  I also suspect those on short hours end up working on their days off and / or working harder on the days they are in in order to compensate.  Finally, I think my idea would be to work around 30% and nobody has (to my knowledge) ever done that.

It doesn't sound like your are pyschologically ready to retire yet and that is perfectly ok.  There was at least a two year delay on my part from being FIRE to being retired. You need either to retire to do something, (hike the Camino, learn to make guitars) or because the BS of the job is enough to make you want to quit.  As manager I loved having part time workers. HR counted them as 1/2 head for budgeting purpose. They'd sign up for 3 days of work but generally would work from home a couple hours on one or both of their off days, and sometimes would flat out work the  extra day a week.  Now admittedly they did get full benefits but I generally felt they were getting a bad deal. However, the woman (it was always woman) were happy to have to an extra day with the kids,and then one other day to do all the things you don't have time to do when you are working.

My suggestion since you are psychologically unsure about retire is to do a trial run at retirement.  Since your company seems progressive, I'd ask for a 3-12 month leave of absence.   This would give you a good feeling for what retirement would feel like, without committing you to cut the ties completely. The worse the company can say is NO.

[squeakywheel]

My suggestion since you are psychologically unsure about retire is to do a trial run at retirement.  Since your company seems progressive, I'd ask for a 3-12 month leave of absence.   This would give you a good feeling for what retirement would feel like, without committing you to cut the ties completely. The worse the company can say is NO.

I agree with this suggestion.

My DH and I are in a similar position and I have been struggling with many of the same feelings you have. My company wanted me to change jobs. After much thought, I realized that I did not want more money, but I did want some time off. So I asked for (and got) a leave of absence. It was enough time off for me to really give some thought to what retirement will be like. It's much different than thinking about it theoretically while you are still working full time, at least it was for me.

[2Cent]

It all depends on what type of person you are. If you need outside pressure to do something, be careful to replace your job with something else which will give you that pressure. Like volunteer work, social engagements, grand kids, etc. I've seen people lose their jobs and just sit and watch tv and browse internet all day. A trip to the grocery store would be the mayor task of the day. I don't think they felt bored, but their lives did become very small.

[2Cent]

On the other hand, a good friend of mine who could have retired years earlier, finally retired at age 60 to go and live his dream as a missionary abroad. He died at age 63 while still in training.

So remember as good as that extra money sounds, time is your most precious asset at this moment so decide well how you want to spend it. I would suggest traveling, being with your wife, kids and maybe grand kids or pursuing a dream will be much better than spending time with clients and coworkers.

[pbkmaine]

Is there any possibility at all of cutting back hours at work or working from home?  Since you are in a position of power, you can negotiate aggressively with your employer for terms that make working more attractive, so you can keep what you like about work and ditch more of what you don't.  And since you don't need the money, if it comes with a paycut, that should be okay, too.

+1. This is what I did. I told my employer that DH was retiring and we were moving. I said I would be happy to either work out a reduced hours arrangement or part friends. 3 years later, I am still working remotely for my company on special projects that total about 5 hours per week.

[Cap_Scarlet]

So remember as good as that extra money sounds, time is your most precious asset ......

Yes, and at the end of the day that is the crux of the dilemma.

More money means more security and more spending power but.....how much of a safety blanket do you need?

Two experiences in the last few years where colleagues have died well before their "time" really makes you think.  but can you live your life in the shadow of death?  (I'm not religeous)

[Cap_Scarlet]

I told my employer that DH was retiring and we were moving. I said I would be happy to either work out a reduced hours arrangement or part friends. 3 years later, I am still working remotely for my company on special projects that total about 5 hours per week.

You know, at the end of the day this is my ideal solution and I can see myself working 1-2 days a week and I actually think that would be a pretty good solution for them as well.  I just haven't been bold enough to ask them for that yet.  Once I make the decision to say "go" then them becomes a viable discussion.

[FenderBender]

i'm going to 3 days a wk in october instead of full retirement.   not sure your co allows this.  if i take any given wk off, i get 11 straight days off so pretty near retirement for me. 

i worry about being bored too, but not in the short run because i have a house that has plenty of odds and ends to tackle.  after those are done, i can exercise more.  after exercise, i can travel more.  i'd like to go camping more. i'll woodwork more too in between all this other stuff.  probably vacuum the house more too (for exercise) and join a cheap gym and take really long hot showers there too without thinking about all the hot water i'm using.  shower long while all those non-retirement guys rush in and rush out of the locker room without having time for a shower. 

since i'm near retired, i will have time to ride my bike to the gym.  on the way back, might stop for coffee and relax a little.... easy does it.

i have 2 dogs - walking them when everyone else is at work and their dog isn't on the trail oh so great for me and my dogs.

who can get bored?

[Bob W]

There is no reason for you to even consider retirement simply because the numbers work out unless you have a great plan.    The whole -- you never know you could die any day and you might miss out on some great entertainment --- thingy just doesn't cut it.   

My advice --- Keep on working,  enjoy what you are doing, don't play the politics,  keep racking up the money and reconsider in another 5 years.   

My guess is you will be just slightly older in 5 years.   You probably wont be climbing Everest but you sure as hell could ski the big ones, hike the hills and swim the rivers if that is your desire. 

[MrsPete]

At 50 years old we have everything in place to retire early.

We have sold our house and bought our retirement home.
We have sufficient pensions in place which will start paying out at age 60 to meet our expected retirement expenditure.
We have sufficient cash (with a good buffer) to more than fund our living expenses between now and age 60
Kids are very well provided for, we have paid them through college and an inheritance means they have enough money to get on the housing ladder

.....and yet, standing on the edge of the swimming pool we are hesistating to jump.

Why?

- Loss of status?  I actually like some bits of the job (the bit with clients and doing work) but hate other bits (the internal politics)
- I am in peak earning years and can expect to earn a significant amount over the next 2-3 years, which seems almost criminal to forego (even if we don't need the money ourselves, i could see us increasing our giving e.g. to start up businesses) or (selfishly) upgrading our travel budget.
- A fear that actually I might get bored (realitically I have some hobbies but 24 hours a day 7 days a week I'm not so sure).
- The finality of the decision (at my level, once i go there's no going back)

We may have the opportunity to relocate (with my employer) to a much nice location that would potentially be a really good fit for us.

Anyone been in the same situation?  What did you do?

Faced with those circumstances, I think I'd opt to stay working another 2-3 years.  I'd pick a definite "leaving" date and take the nicer location /see if it's a good fit.  You say you're in your peak earning years, so earn and save it as a buffer.  This'll keep you from digging into your savings too soon.  You'll leave work in an even stronger position financially, and you'll be only a couple years older. 

But when you reach the date you set now, don't waiver.  Leave then.

[2Cent]

There is no reason for you to even consider retirement simply because the numbers work out unless you have a great plan.    The whole -- you never know you could die any day and you might miss out on some great entertainment --- thingy just doesn't cut it.   

My advice --- Keep on working,  enjoy what you are doing, don't play the politics,  keep racking up the money and reconsider in another 5 years.   

My guess is you will be just slightly older in 5 years.   You probably wont be climbing Everest but you sure as hell could ski the big ones, hike the hills and swim the rivers if that is your desire.

I guess it all really depends on your health and fitness level, and what your dreams are. If retiring is not a goal in itself maybe you could find a goal. I agree if you only plan to hang around the house with the occasional trip, it will be better to have a really nice house and really nice trips. But if you want to really do something, it's good to do it while you're younger rather than richer.

[Cap_Scarlet]

Faced with those circumstances, I think I'd opt to stay working another 2-3 years.  I'd pick a definite "leaving" date and take the nicer location /see if it's a good fit.  You say you're in your peak earning years, so earn and save it as a buffer.  This'll keep you from digging into your savings too soon.  You'll leave work in an even stronger position financially, and you'll be only a couple years older. 

But when you reach the date you set now, don't waiver.  Leave then.

Health and fitness levels are generally good (not overweight and do a reasonable amount of sport).  I had a health scare a few years ago (testicular cancer) which was a wakeup call which did make me reassess my mortality and (to some extent) think about my bucket list.  I was talking to my wife and we both agree that actually there are very few things we absolutely have to do.  In actual fact the thing I regret most is not spending enough time with the children when they were really young – that’s gone – and we have made up for it as they have got older – but mostly we are pretty happy with our lives.

In terms of dreams, I’ve always wanted to spend an entire season skiing, being able to pick and choose when the conditions are just right or get up early to catch the fresh powder.  But then I always wonder whether, like eating a bottomless bowl of strawberries, there will come a point and you say “no more strawberries!”.  The move we are looking at would allow me to ski relatively easily every weekend so I will be able to test drive that.  Other than that I can see myself setting some new goals but there’s nothing burning me up.

I do think a lot of the comments on here are right – we are probably just not ready.  I like the idea of an extra 2 years with a fixed exit date – that actually gives us time to plan a little better than we have done so far!

[2Cent]

Sounds like a good decision.

In actual fact the thing I regret most is not spending enough time with the children when they were really young – that’s gone

Not gone forever. Grandchildren...

[Villanelle]

Is there any possibility at all of cutting back hours at work or working from home?  Since you are in a position of power, you can negotiate aggressively with your employer for terms that make working more attractive, so you can keep what you like about work and ditch more of what you don't.  And since you don't need the money, if it comes with a paycut, that should be okay, too.

I am absolutely with you there and that is definitely an option.  I would be happy with less money for less work but here's the thing - we are a large company with progressive employment polices.  We even have video's on our website showing examples of people who have gone to part time or some other form of flexi work.  So on the face of it is looks doable.  However, its difficult to shake the feeling that its a sham and actually they see it as a sign of weakness. I also suspect those on short hours end up working on their days off and / or working harder on the days they are in in order to compensate.  Finally, I think my idea would be to work around 30% and nobody has (to my knowledge) ever done that.

If you relocate, would there be a commitment to stay for a certain amount of time?  Is the new location a place where you'd want to be retired?

It would not be for a fixed period of time but as we would need to rent an apartment realistically we would be committing for 12 months.  In addition, its definitely an upgrade on where we live at the moment....the only concern is "same shit different bucket"

I have at least taken the first step which is telling them I am moving away from the area where we live at the moment - that made them sit up and take notice a bit :-)

So what if they see it as weakness?  And you can only be forced to work extra hours if you *let* yourself be forced. If you commit to 20 hours, stop working at 20 hours.  Of course, if they are dissatisfied enough, there is the possibility you'll be cut, but since you don't absolutely need the money, that doesn't seem like it would be catastrophic. 

30% might be too little to make it worth their while, especially when some costs (like payroll, benefits, etc.) stay the virtually the same.  Would 50% interest you? What if it was two 10 hour days, meaning you still get your ideal of only being 2 days per week?  Or two 8 hour days plus a half day from home? Is there anything you can give up to sweeten the deal for them? (The obvious would be healthcare, but you might not want to part with that.) 

If you feel you aren't ready for any of this, there still might be room for changes that make you a bit happier.  Ask about a 9/80 or 40/10 schedule, for example, so you have a day off every week or every other week.  Your company gets the same amount of labor, but you get some more free days.  Or ask about working from home once a week.  See if there are things you can do without actually cutting back, but that make your life a bit better for those next 2 years you think you want to stay.  Worst that happens is they say no, but it seems unlikely there would be retribution simply for inquiring about options. 

[nancyjnelson]

"I actually like some bits of the job (the bit with clients and doing work) but hate other bits (the internal politics)"

My younger brother went part-time (still with medical benefits) four years ago when he was in his early 40s.  He found that since he he is now only there 2 1/2 days a week and his time is limited, he no longer gets invited to the long, boring meetings full of internal politics - his co-workers only "bother" him with actual work that needs to get done.  He spends his out-of-office life on the guitar (he does some back-up music for other musicians) and working on refurbishing the house that his wife and he moved into when he cut back (it has a rental unit attached that will soon become another stream of income).

"A fear that actually I might get bored (realistically I have some hobbies but 24 hours a day 7 days a week I'm not so sure)."

I don't think retirement is about entertaining ourselves.  Instead, it's about having the freedom to explore life.  I retired at age 52 (with a reduced pension) from a job I loved, but with politics I had little patience for (going part-time was not an option in my line of work).  I now run a website where I post stories on issues I find interesting, and interviews with authors whose books I like (it's amazing who is willing to talk to you when you make clear you are doing an article for public consumption).  While I wait for my youngest to graduate high school I am slowly refurbishing the house (a down-sizer) I bought, with skills I'm learning as a part-time employee in one of the big-box home improvement stores.  When my child goes off to college, I'll likely down-size again (to a condo), and start traveling.  The world is a fascinating place.

[Cap_Scarlet]

So what if they see it as weakness?  And you can only be forced to work extra hours if you *let* yourself be forced. If you commit to 20 hours, stop working at 20 hours.  Of course, if they are dissatisfied enough, there is the possibility you'll be cut, but since you don't absolutely need the money, that doesn't seem like it would be catastrophic. 

30% might be too little to make it worth their while, especially when some costs (like payroll, benefits, etc.) stay the virtually the same.  Would 50% interest you? What if it was two 10 hour days, meaning you still get your ideal of only being 2 days per week?  Or two 8 hour days plus a half day from home? Is there anything you can give up to sweeten the deal for them? (The obvious would be healthcare, but you might not want to part with that.) 

If you feel you aren't ready for any of this, there still might be room for changes that make you a bit happier.  Ask about a 9/80 or 40/10 schedule, for example, so you have a day off every week or every other week.  Your company gets the same amount of labor, but you get some more free days.  Or ask about working from home once a week.  See if there are things you can do without actually cutting back, but that make your life a bit better for those next 2 years you think you want to stay.  Worst that happens is they say no, but it seems unlikely there would be retribution simply for inquiring about options.

Thanks - those are good suggestions.

One of the things that annoys me (a bit) is that over the last few years the company has weeded out underperformers which generally involves giving them a nice pay off (c. 12 months).  Yet there are those of us still here who would love to have been included but never made the "cut"!

Nevertheless there is definitely a precedent for four days a week and if we move to the new location and I can get three days skiing a week I think that might scratch my itch such that i would be happy to keep going for another two year.

One thing counting against me is my age as generally the firm is less favourable to those over 50 and looking to start moving them towards the exit door rather than into a new position.

Lets see - I have some negotiations over the next fews days and I will drop back in and tell people how it went.

[Cap_Scarlet]

I don't think retirement is about entertaining ourselves.  Instead, it's about having the freedom to explore life.  I retired at age 52 (with a reduced pension) from a job I loved, but with politics I had little patience for (going part-time was not an option in my line of work).  I now run a website where I post stories on issues I find interesting, and interviews with authors whose books I like (it's amazing who is willing to talk to you when you make clear you are doing an article for public consumption).  While I wait for my youngest to graduate high school I am slowly refurbishing the house (a down-sizer) I bought, with skills I'm learning as a part-time employee in one of the big-box home improvement stores.  When my child goes off to college, I'll likely down-size again (to a condo), and start traveling.  The world is a fascinating place.

Thanks - and I agree - I do think there's an opportunity to explore lots of new things.

As for the politics - I'm of the view that whatever happens over the next couple of weeks / months - now is the time to 'get my elbows out' and start telling people some home truths.  You never know, it might even get me fired ;-)

[Highbeam]

I have an unlimited skiing "connection". Like that bowl of berries or stack of pizza, you can burn out on it. It will become not special anymore and just cranking out runs. Like a job. So don't overdo it.

[skunkfunk]

So what if they see it as weakness?  And you can only be forced to work extra hours if you *let* yourself be forced. If you commit to 20 hours, stop working at 20 hours.  Of course, if they are dissatisfied enough, there is the possibility you'll be cut, but since you don't absolutely need the money, that doesn't seem like it would be catastrophic. 

30% might be too little to make it worth their while, especially when some costs (like payroll, benefits, etc.) stay the virtually the same.  Would 50% interest you? What if it was two 10 hour days, meaning you still get your ideal of only being 2 days per week?  Or two 8 hour days plus a half day from home? Is there anything you can give up to sweeten the deal for them? (The obvious would be healthcare, but you might not want to part with that.) 

If you feel you aren't ready for any of this, there still might be room for changes that make you a bit happier.  Ask about a 9/80 or 40/10 schedule, for example, so you have a day off every week or every other week.  Your company gets the same amount of labor, but you get some more free days.  Or ask about working from home once a week.  See if there are things you can do without actually cutting back, but that make your life a bit better for those next 2 years you think you want to stay.  Worst that happens is they say no, but it seems unlikely there would be retribution simply for inquiring about options.

One of the things that annoys me (a bit) is that over the last few years the company has weeded out underperformers which generally involves giving them a nice pay off (c. 12 months).  Yet there are those of us still here who would love to have been included but never made the "cut"!

Considered just half-assing it until they offer you a severance?

[zephyr911]

If I were you, and enjoying the job enough to keep it for its own sake (not for the money), I'd consider renting out that retirement house and taking the relocation. But I love moving (as long as someone else does the heavy lifting). Come back in a couple of years and become a consultant if you still feel the need to do something. For me, FI is all about going nonprofit and working even harder for the betterment of man, so I don't worry about boredom. YMMV.

[LiveLean]

I have a triathlon training group that skews older. I'm 45 -- most of them are 60-65.

I've seen several of them "retire" in recent years. The key is that they seem like much younger people from all of the training they do, which takes up a chunk of time. They took early retirement packages at 55ish. One had a side business putting on triathlon and running events, which he's ramped up further. Another was a handyman on the side and now he does as much of that as he wants.

I've learned a lot from being around these folks, who kick my ass in workouts. Seems the key to retirement is to have plenty of active hobbies and some sort of "work," preferably a second career, that you still enjoy. Whenever I hear a plan to "spend more time with family and travel" that never seems to work out very well, at least not for very long.

[Cap_Scarlet]

ok, so the deed is done.

I've signed up for two more years but to an office which puts me within two hours of my retirement home, making it within practical reach for weekends and therefore two days of skiing a week.

[2Cent]

ok, so the deed is done.

I've signed up for two more years but to an office which puts me within two hours of my retirement home, making it within practical reach for weekends and therefore two days of skiing a week.

Brilliant. It's great when you can have your cake and eat it too.

[Dicey]

So, I really don't expect that this will change anything, especially in light of your recent re-up, but this quote lived on my desk, motivating me toward FIRE, for a long time.

                                    "Retiring too early is a mistake that can be recovered from. Too late and there is no recovery."

You mention regretting time not spent with your children when they were young, which is completely understandable. Is there anything else that you would regret not doing with your spouse and/or your life? If there is, go do it. If not, keep working. As to overdoing it on the skiing, you could just limit yourself to days that end in "y". Best of luck to you, you're in a good place, whatever you decide.

[Cap_Scarlet]

So, I really don't expect that this will change anything, especially in light of your recent re-up, but this quote lived on my desk, motivating me toward FIRE, for a long time.

                                    "Retiring too early is a mistake that can be recovered from. Too late and there is no recovery."

You mention regretting time not spent with your children when they were young, which is completely understandable. Is there anything else that you would regret not doing with your spouse and/or your life? If there is, go do it. If not, keep working. As to overdoing it on the skiing, you could just limit yourself to days that end in "y". Best of luck to you, you're in a good place, whatever you decide.

I don't have any other regrets in fact I think I've been pretty fortunate.

I feel very comfortable knowing that we are FI and could walk away at any time.